StockNews.com upgraded shares of EMCORE (NASDAQ:EMKR – Free Report) from a sell rating to a hold rating in a research note published on Monday morning.
Separately, Craig Hallum reduced their price objective on shares of EMCORE from $2.00 to $1.00 and set a hold rating on the stock in a research note on Thursday, August 8th.
Get Our Latest Stock Report on EMKR
EMCORE Trading Up 1.9 %
EMCORE (NASDAQ:EMKR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.30). EMCORE had a negative net margin of 81.08% and a negative return on equity of 25.05%. The firm had revenue of $20.44 million during the quarter, compared to the consensus estimate of $20.00 million. Equities analysts expect that EMCORE will post -0.25 earnings per share for the current year.
Institutional Inflows and Outflows
An institutional investor recently raised its position in EMCORE stock. Archon Capital Management LLC lifted its stake in shares of EMCORE Co. (NASDAQ:EMKR – Free Report) by 65.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,552,577 shares of the semiconductor company’s stock after acquiring an additional 4,951,568 shares during the period. EMCORE accounts for about 1.5% of Archon Capital Management LLC’s portfolio, making the stock its 22nd largest position. Archon Capital Management LLC owned approximately 162.39% of EMCORE worth $4,331,000 as of its most recent filing with the Securities & Exchange Commission. 65.66% of the stock is currently owned by hedge funds and other institutional investors.
EMCORE Company Profile
EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.
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